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851 Rockett Lane Cedar Hill, TX 75104

3 Beds 3 Baths 2,283 sqft Built 1991

$251,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $109.94
  • 2 Days on Market
  • MLS # : 14477364
  • Updated Date : 12/05/2020 at 09:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,283 sqft
  • Baths : 2 full , 1 half
Listing Agent

Mkv Real Estate, Llc

Listing Agent's Description

Beautiful 2-story located Cedar Hill! Conveniently located within walking distance to the neighborhood Longhorn Park and a short drive to Joe Pool Lake. Home features 3bed, 2.5bath, eat-in kitchen, formal dinning room, and private backyard. Come make this your next home before it's gone!

SEE MORE

MARKET HIGHLIGHTS

  • Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
  • Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)
  • Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Stonewood Heights North

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Stonewood Heights North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9061740

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Highlands Elementary School Primary Regular 599 30 4
Permenter Middle School Middle Regular 632 39 4
Permenter Middle School High Regular 632 39 4

Highlands Elementary School

  • Education Level: Primary
  • # of students: 599
  • # of teachers: 30
4
GreatSchools Rating

Permenter Middle School

  • Education Level: Middle
  • # of students: 632
  • # of teachers: 39
4
GreatSchools Rating

Permenter Middle School

  • Education Level: High
  • # of students: 632
  • # of teachers: 39
4
GreatSchools Rating
 

$225,900$276,100$251,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$926
Property Tax -$571
Property Insurance -$159
Property Management Fees -$99
CASH FLOW
$25

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$251,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 10.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,265

INVESTMENT

$72,265

Down Payment
$62,750
Rehab Estimate
$5,750
Closing Costs
$3,765

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$926

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,750
Loan Amount $188,250
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$14,250

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,780

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,918

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7803$1,8004$1,8255$1,850
$1,850
RENT COMPS ANALYSIS
  • 851 Rockett Lane Cedar Hill, TX 2
    • 3 beds 3 baths ∙ 2,283 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,283 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.78
    •  
  • 921 Simon Drive Cedar Hill, TX 1
    • 4 beds 2 baths ∙ 2,080 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,080 Sqft ∙ Built 2006
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.81
    •  
  • 1117 Grounds Road Cedar Hill, TX 3
    • 4 beds 3 baths ∙ 2,048 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,048 Sqft ∙ Built 1996
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.88
    •  
  • 816 Ponds Way Cedar Hill, TX 4
    • 3 beds 3 baths ∙ 2,197 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,197 Sqft ∙ Built 1990
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.83
    •  
  • 803 Switzer Lane Cedar Hill, TX 5
    • 3 beds 3 baths ∙ 2,197 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,197 Sqft ∙ Built 1990
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.84
    •  
PROPERTY LISTING DETAILS
Jonathan Rivera
Mkv Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14477364
Last Updated: 12/05/2020
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